coming up, jeremy siegel is here to weigh in on president biden's infrastructure bill.joins the conversation as well mike, i come to the first just slipping, giving up most of today's gain, off a very strong week particularly just mechanical drivers of that. it's the largest component of that index are being sold to essentially go into a different index. that was the effect seemingly on the russell, probably doesn't change much about the trend, and in general the s&p for the week just sort of reasserted the upper trend. we had five of these three 5% to 3% pullbacks they've usually been associated with some kind of scare, and people came away with the conclusion nothing much has -- has changed. if there's quibble it's not particularly broad you're seeing some data that says the nasdaq, might be culminating in this run to the up side. the real fundamental inpulse remain the same. earnings photograph for this year up a lot more than 13%, which is the flip side of what we got last year catherine, you think this market is overvalued and has been for a while? why? do you see

wharton professor jeremy siegel. he joins us now. professor, good the see you again. >> happy to be here. >> are you expecting any surprises today? >> i appear to be the only one here that is expecting a surprise today i think we are going to find out at 2:00 -- remember, 2:00 is when we get the dot plot and we get the survey of economic expectations. and, remember, in march only four of the fomc members expected a fed funds increase next year. i believe that that's going to increase to a majority i think you are going the see a big shift in the dots towards a more aggressive tightening stance and honestly, i'm not sure the market is ready for that >> as you are saying that, professor, you are saying that, i'm literally writing down the words, game changer. because if that's what happens today, the stock market is not going to be happy. >> it won't be happy i am not going to call it a tapered tantrum. i'm going to call it a taper tremor but i think will have been a tremor once they realize -- and i think that in the news conference w

jeremy siegel on what to do now with your money. plus, those exclusive comments on stocks from hedge fund manager david tepper from our conversation earlier today we will debate all of it with the investment committee joining me, steve weiss, courtney gibson, the president of luke capital markets. jim lebenthal, jon najarian here as well. nice to see everybody on this big day. let's go to the wall, check the markets. mostly lower you see there lower across the board. well, nasdaq is actually higher by nearly 100 points it is the ten-year note yield that may be most interesting thing to look at today 1.50 is the yield. after that spike ball from the fed it has come down steve weiss, begin with you. i want to begin with the comments from my conversation with tepper earlier today. the fed did a good job, he said. stock market, in his cowords, quote, still fine for right now. one of his gifts, as you know, is being able to take confusing things and distill it down into easily understandable words. bottom line, you still have an accommod

jeremy siegel on what to do now with your money.d manager david tepper from our conversation earlier today we will debate all of it with the investment committee joining me, steve weiss, courtney gibson, the president of luke capital markets. jim lebenthal, jon najarian here as well. nice to see everybody on this big day. let's go to the wall, check the markets. mostly lower you see there lower across the board. well, nasdaq is actually higher by nearly 100 points it is the ten-year note yield that may be most interesting thing to look at

jeremy siegel said he's not lowering his stock exposure, even though he thinks you could have a little bit more upset in the market, and then rick rieder told us the following yesterday. i mean he is managing $2.7 trillion over at black rock. let's liz ento reider kick it on the other side >> i don't think at the end of the day it is that big a deal. we would love the market to pull back a bit we are holding some cash we would like the market to pull back i don't think it is going down very far some companies have been repriced recently that are 12% to 15% persistent r.o.e. type of companies we would love to buy at cheaper levels. >> that's black rock's rick rieder, said they were unloading treasuries yesterday, unloading financial stocks, things like that shannon, what do you make of what he said in this market where bullard brought the market down a bit, dow is down 400 as i ask you this question. >> i think if you look at this week, scott, there's been nothing surprising frankly, i just go back to what are the tailwinds and the potential headwinds. the headwinds are higher rates and